Accrue real estate Melbourne

Discussion in 'The Buying & Selling Process' started by KoBro, 15th Mar, 2016.

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  1. KoBro

    KoBro Member

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    hi :) given I'm inexperienced in property investment, I've considered working with Accrue Real Estate. They find off market properties that fit a combination of criteria, which they believe make a good investment. Has anybody worked with them, or know anything about them?
     
  2. pinkboy

    pinkboy Well-Known Member

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    I suggest you start by doing a Google search about the company

    And any property promoting website or advertorial that starts with 'We are not property spruikers..............yadda yadda yadda' - well they're a red flag for me.

    pinkboy
     
    Last edited by a moderator: 19th Aug, 2016
  3. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    Their website is fairly vague. What do they actually do?
    - Buyers agent where you pay a flat fee to find a property? - This is good, keep investigating.
    - Promoting off the plan or new properties and getting paid by developers - Terrible, run away.
     
  4. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Everyone buys their first few IP's with little to no 'experience'.

    If your talking about 'lacking knowledge' then why don't you spend a few months to learn and get the knowledge/make the contacts.

    Relying completely on any company or any other person is never going to ever, ever, ever make you wealthy (if that's the goal).

    Only you can.

    My two cents.
     
    Last edited: 17th Mar, 2016
    albanga likes this.
  5. Jamie Moffat

    Jamie Moffat New Member

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    Victoria
    I signed up with and bought a property through Accrue Real Estate. Here's what I'll say - its a mixed bag. They get full marks for being attentive and courteous, and they do their research. The property we bought through them was pretty good and is yielding results.

    They aren't so hot on the finance side of things, (which they outsource), so before buying anything I would strongly recommend you find yourself a good accountant/mortgage broker, get them to crunch the numbers and make sure that what Accrue say will happen actually will happen. We ran into a pretty big cash flow problem, and when we took our concerns back to Accrue they were genuinely sympathetic but offered no real solution. Once we took matters into our own hands, we found a way to move forward.

    My overall impression is that they are essentially salesmen, but to give them their credit, they are very good at locating properties. But definitely get a second opinion with the finances.
     
  6. Jane Ridder

    Jane Ridder Financial Planner & Mortgage Specialist Business Member

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    Just curious Jamie, which suburb did you end up buying in? Was it an existing house?
     
  7. Jamie Moffat

    Jamie Moffat New Member

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    It was a new townhouse in Airport West. I’ve had it independently appraised as a solid if not very exciting investment.
     
  8. willy1111

    willy1111 Well-Known Member

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    Melbourne
    Be careful you don't over pay.

    Know of a guy who bought off the plan in good suburb close to train, bank val on completion was 10% lower than contract.

    So be sure to compare comparable sales so you don't over pay.

    Also use your own finance person and conveyancer.